Mitch Jacoby, with Cresa Partners' Boston office, tells GlobeSt.com that Akibia, a tenant at 4 Technology Dr. since 2000, was able to capitalize on a competitive rental rate and other landlord concessions to keep its corporate headquarters in the 116,118-sf, two-story Westborough Technology Park property.
"They were beneficiaries of a very competitive market rental rate, favorable tenant improvement allowance and some other beneficial terms that we were able to negotiate with the landlord," says Jacoby, who along with David Ross, also with Cresa Partners, handled the negotiations for Akibia.
Terms of the lease were not disclosed but Jacoby says current asking rates at the property are $18 per sf gross, net of electricity. The building's landlord, Rreef, was represented in the transaction by Joe Fallon and Sue Donovan, both with Trammell Crow Co.'s Boston office.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
